不同学2019-09-19 17:09:58

An investor has entered into a forward rate agreement where she has contracted to pay a fixed rate of 5 percent on $5,000,000 based on the quarterly rate in three months. If interest rates are compounded quarterly, and the floating rate is 2.5 percent in three months, what is the payoff at the end of the sixth month? 老师，对于FRA，怎么判断其方向（支付还是收到），特别是计算payoff时，讲义里有两个公式，感觉不是很好应用，能否对这块的方向判断做个总结，谢谢。